Build relationships, enhance efficiency, and ensure compliance
To charge or not to charge is the question that looms large over most commercial banking executives. Given that customers today expect hyper-personalized services, transparency, and high-speed on-demand services, billing automation becomes crucial to ensure customer satisfaction, profitability, and stability.
Alibaba and Amazon use the same horizontal approach in the B2B space, where curated ecosystems from different organizations, with different offerings, meet multiple client needs and offer them more than a channel to sell their products.
Banks can leverage SunTec’s ESG Solution to improve their customers’ social impact, including employee wellbeing and customer satisfaction. This will not only assess business influence on society but will also encourage companies to enhance their practices. By enabling donations to social causes, banks offers customers the chance to contribute financially to charities, with tax benefits and global reach. Furthermore, with SunTec’s ESG Solution, banks can develop financial inclusion products, extending services to those in need. This approach highlights the importance of social indicators in ESG efforts, empowering banks to make meaningful societal contributions.
Obsolescence and the urgent requirement for an invoicing system that offers seamless and contemporary billing is staring in the face of Swedish Banks. Relying on a software system that was developed by a consortium of banks, several years back, to process payments and generate invoices, is now in need of potential change to meet future requirements.
To drive customer loyalty, banks must counter the fragmentation of services with highly customized offers built on deep analysis of customer insights. They must bundle offers such that they resonate with the customer’s context and are perceived as attractive and valuable. The ability to personalize, coupled with agility, is imperative to growing the customer graph.
In the evolving landscape of global business, banks have a critical opportunity to become strategic enablers in corporate cash management. By providing treasury management services that offer a centralized, real-time view of cash flows and transactions, banks can not only facilitate better cash flow forecasting and matching but also enhance their role in transforming corporate cash management for businesses expanding globally.
Customers today expect higher levels of empathy and to be understood better based on what they seek in terms of their goals, lifestyles, likes, and preferences. You need a solution that offers you the right insights to get to know your customers better and offer products that are relevant to them.
